This is a step in the right direction, but I think there are still a few potential problems that leave open the possibility of abuse by copyright claimants.
The biggest problem is that it doesn't cost anything to issue copyright claims , and that no matter the validity of the claim it takes loads of time for the dispute to settle. So now we will hopefully get less copyright trolls that leaches off content creators, but this doesn't resolve the problem of copyright holders (often using crappy software) issuing mass/automatic claims and stopping content creators from getting any money.
So better, but still not great. I think to truly protect the rights of the legitimate content creator, there needs to be a penalty in place to stop abuser of the claims system, not just holding the money until the dispute is settled.